Mount Yale Investment Advisors LLC Cuts Position in Kellanova (NYSE:K)

Mount Yale Investment Advisors LLC lowered its holdings in shares of Kellanova (NYSE:K) by 35.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,542 shares of the company’s stock after selling 1,964 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Kellanova were worth $286,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Kellanova during the second quarter valued at approximately $29,000. CVA Family Office LLC boosted its stake in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the last quarter. BNP Paribas purchased a new stake in shares of Kellanova during the first quarter worth approximately $30,000. Finally, Newbridge Financial Services Group Inc. raised its stake in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the transaction, the insider now owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the completion of the transaction, the insider now directly owns 49,795,357 shares of the company’s stock, valued at approximately $4,031,432,102.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the sale, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,113,281 shares of company stock worth $89,184,520 over the last three months. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of K stock opened at $80.88 on Monday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The firm has a market cap of $27.65 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.60 and a beta of 0.39. The firm’s 50 day moving average price is $80.61 and its 200-day moving average price is $67.48. Kellanova has a one year low of $49.79 and a one year high of $81.26.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Kellanova will post 3.7 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

Analyst Ratings Changes

K has been the subject of a number of research reports. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Stifel Nicolaus increased their price objective on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Barclays boosted their target price on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Evercore ISI raised Kellanova to a “hold” rating in a report on Friday, August 2nd. Finally, BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research note on Monday, August 5th. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average price target of $74.32.

About Kellanova

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.